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Financial Times: US listed mining companies have raised over $3.7 billion to buy Bitcoin since November last year

Financial Times: US listed mining companies have raised over $3.7 billion to buy Bitcoin since November last year

Bitget2025/01/07 05:04

According to the Financial Times, as competition for resources intensifies, American Bitcoin miners are accumulating cryptocurrency funds to help them withstand tightening profit margins. Companies including Mara Holdings, Riot Platforms and CleanSpark have capitalized on soaring Bitcoin prices, raising over $3.7 billion from investors since November last year and using these funds to purchase Bitcoin. They typically raise funds through zero-interest (or near-zero interest) convertible bonds.

Russell Cann, Chief Development Officer of Core Scientific said: "It's not as simple as everyone being happy after the price of Bitcoin rises. There are still complex challenges in terms of profitability and grid access." The miners' plans also include expanding artificial intelligence capabilities, marking a dramatic reversal in industry prospects. After the halving of bitcoin mining rewards, the industry has been in trouble for the past eight months. Cann also stated: "The demand for artificial intelligence in America will greatly affect the scale of bitcoin mining." He predicts that most computing power for Bitcoin will come from outside America in coming years.

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